PhillyTalk: Ask the Writers and Experts

How Long Should It Take To Receive Your Tax Refund?

If you file a complete and accurate paper tax return, your refund should be issued about six to eight weeks after the IRS receives your return. If you file your return electronically, your refund is issued in about half that time — even faster if you choose direct deposit.

Whether you split your refund among several accounts, opted for direct deposit to one account or asked IRS to mail you a check, you can track your refund through the IRS.gov Web site using the “Where’s My Refund” (https://sa1.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp). You can get refund information even if you filed just to request the telephone excise tax refund.

To get to your personal refund information, be ready to enter your:

Social Security Number (or IRS Individual Taxpayer Identification Number)

Filing status (Single, Married Filing Joint Return, Married Filing Separate Return, Head of Household, or Qualifying Widow(er))

Exact refund amount shown on your return

If you don’t receive your refund within 28 days from the original IRS mailing date shown on Where’s My Refund?, you can start a refund trace online.

If Where’s My Refund? shows that IRS was unable to deliver your refund, you can change your address online.

Where’s My Refund? will prompt you when these features are available for your situation.

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Small Business and Self-Employed One-Stop Resource

The IRS.gov Web site offers a broad range of resources across federal and state agencies, as well as industry/profession specific information for self-employed entrepreneurs, employers and businesses. Check it out at http://www.irs.gov/businesses/small/index.html

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This response does not represent a legal opinion from the IRS. To address your specific circumstances consult with a tax professional.

You should check out Publication 504 on the IRS.gov Web site (http://www.irs.gov/publications/p504/ar01.html). This publication explains tax rules that apply if you are divorced or separated from your spouse. It covers general filing information and can help you choose your filing status. It also can help you decide which exemptions you are entitled to claim, including exemptions for dependents.

The publication also discusses payments and transfers of property that often occur as a result of divorce and how you must treat them on your tax return. Examples include alimony, child support, other court-ordered payments, property settlements, and transfers of individual retirement arrangements. In addition, this publication also explains deductions allowed for some of the costs of obtaining a divorce and how to handle tax withholding and estimated tax payments.

I can’t speak for taxes that may apply in Philadelphia or Pennsylvania . You should check with both city and state revenues offices.

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Filing Late and/or Paying Late: Information You Should Know (http://www.irs.gov/businesses/small/article/0,,id=108326,00.html)

Haven't Filed a Tax Return? Here's What to Do

Taxpayers should file all required returns that are past due now to avoid additional penalties and interest. This section gives information on getting help and documents needed to prepare a return. It is never too late to file.

It’s Important to Pay Taxes in Full

Paying taxes timely and in full also avoids unnecessary penalties and interest. This section also provides information on ways to pay taxes, such as installment agreements, and what a taxpayer should do upon receiving a bill from the IRS.

How Full Payment of Taxes Saves Money

Full or partial payment of tax liabilities through liquidating or borrowing costs less than an Installment Agreement.

Meeting the Terms of an Installment Agreement

Besides making agreed payments timely, many installment agreement terms also require that current and future tax returns and tax payments be made on time.

Filing Late Returns - Frequently Asked Questions

Commonly asked questions about late returns.

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This response does not represent a legal opinion from the IRS. To address your specific circumstances consult with a tax professional.

You will need to refer to chapter 1 of Publication 590 (http://www.irs.gov/pub/irs-pdf/p590.pdf or http://www.irs.gov/publications/p590/index.html), Individual Retirement Arrangements (IRAs), to find out this amount. Generally the minimum distribution is computed using one of three tables found in Publication 590. Table I is used by beneficiaries. Table II is for use by owners who have spouses who are more than 10 years younger. Table III is generally for use by unmarried owners and owners who have spouses who are not more than 10 years younger.

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Small Business and Self-Employed One-Stop Resource

A-Z Index for Business

Find it Fast! Know what you're looking for and want to find it fast? Select business topics using our A-Z listing, or by business type such as sole proprietor, corporation, etc. We also provide links to major business subjects, such as Business Expenses, which provides a gateway to all related information on that subject. 

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This response does not represent a legal opinion from the IRS. To address your specific circumstances consult with a tax professional.

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For more information visit us at IRS.gov.

Need a Copy of Your Tax Return Information?

Requesting transcripts (individuals):

You have two easy and convenient options for getting copies of your federal tax return information--tax return transcripts and tax account transcripts--by phone or by mail.

Request transcripts by calling 1-800-829-1040, or order by mail using IRS Form 4506T (Request for Transcript of Tax Return).   We do not charge a fee for transcripts.   Allow two weeks for delivery.

Definitions:

A tax return transcript shows most line items from your tax return (Form 1040, 1040A or 1040EZ) as it was originally filed, including any accompanying forms and schedules.  It does not reflect any changes you, your representative or the IRS made after the return was filed.  In many cases, a return transcript will meet the requirements of lending institutions such as those offering mortgages and for applying for student loans.

A tax account transcript shows any later adjustments either you or the IRS made after the tax return was filed.  This transcript shows basic data, including marital status, type of return filed, adjusted gross income and taxable income.

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IRS Warns onE-mail,Scams

The IRS does not send out unsolicited e-mails or ask for detailed personal and financial information. Additionally, the IRS never asks people for the PIN numbers, passwords or similar secret access information for their credit card, bank or other financial accounts. Recipients of questionable e-mails claiming to come from the IRS should not open any attachments or click on any links contained in the e-mails. Instead, they should forward the e-mails to phishing@irs.gov (follow the instructions).

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Your withholding is dependent on your income. I often check my withholding to see if I am behind or ahead of what my projected federal tax liability is going to be and adjust accordingly. This can be especially important if you have major changes in your financial circumstances such as buying a home, have high medical bills, larger charitable contributions, etc. I use the witholding calculator that is on the IRS.gov... http://www.irs.gov/individuals/article/0,,id=96196,00.html. Also, depending on your circumstances you may be required to make estimated tax payments. How do you know if I have to file quarterly individual estimated tax payments? Check out this link on our Web site... http://www.irs.gov/faqs/faq9-3.html

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This response does not represent a legal opinion from the IRS. To address your specific circumstances consult with a tax professional.

If taxpayers are unable to pay a tax debt in full and an installment agreement is not an option, they may be able to take advantage of an offer in compromise (OIC). Generally, an OIC should be viewed as a last resort after taxpayers have explored all other available payment options. The IRS resolves less than one percent of all balance due accounts through the OIC program.

An OIC allows taxpayers to settle their tax liabilities for less than the full amount. Taxpayers should use the checklist in the Form 656, Offer in Compromise, package to determine if they are eligible for an offer in compromise. The objective of the OIC program is to accept a compromise when it is in the best interests of both the taxpayer and the government and promotes voluntary compliance with all future payment and filing requirements.

If there is a Notice of Federal Tax Lien on record prior to filing Form 656, the lien is not released until the OIC terms are satisfied, or until the liability is paid, whichever comes first. A Notice of Federal Tax Lien may be filed during the course of an OIC investigation regardless of the type of offer being considered.

IRS Warns Taxpayers of E-mail Scams

The IRS does not send out unsolicited e-mails or ask for detailed personal and financial information. Additionally, the IRS never asks people for the PIN numbers, passwords or similar secret access information for their credit card, bank or other financial accounts.

This response does not represent a legal opinion from the IRS. To address your specific circumstances consult with a tax professional.

I cannot comment on the trust nor can I comment on what is allowable under Florida law regarding trusts or taxes. You may wish to review Publication 525, Table and Nontaxable Income… http://www.irs.gov/pub/irs-pdf/p525.pdf.

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Are you facing a lot of different tax questions this year?  IRS experts have pulled together an overview of common tax issues in one convenient place — Publication 17, Your Federal Income Tax. This updated publication, available on the IRS Web site, IRS.gov, contains a vast array of helpful information for individual taxpayers.

http://www.irs.gov/publications/p17/index.html

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This response does not represent a legal opinion from the IRS. To address your specific circumstances consult with a tax professional.

There is no simple answer. You should be receiving accurate statements from anyone you do business with be they wage statements, dividends, or other documents that are needed for tax purposes. I would recommend that you gather all of your records, personal and business, and contact a tax professional who can provide guidance given your specific tax circumstances that deal both with this particular company as well as your individual tax circumstances.

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Small Business Forms and Publications 

Now you can select and download multiple small business and self-employed forms and publications or you can call (800) 829-3676 to order forms and publications through the mail. If you are an aspiring entrepreneur and are unsure of which tax publications may be relevant to you, please consult our Starting a Business section at IRS.gov, which provides an overview of your federal tax responsibilities. Please note: This list is not all-inclusive, so please visit Forms and Publications for other tax publications. Adobe Acrobat Reader is required to open the PDF files.

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This response does not represent a legal opinion from the IRS. To address your specific circumstances consult with a tax professional.